Car insurance no claims discount

Hi folks, I’m hoping there is someone in the insurance industry that can shed some light on my particular issue.
I’ve had a look online but my case is a bit different so I can’t find answers.
I was in the taxi trade for many years and when I left the game last year I had 10 years NCD built up from using my taxi.
I then used that NCD on a normal car up until now (coming up on a year and a half)
My normal car will be getting plated as a private hire next week as I’ve decided to go back to being a taxi driver.
When making initial enquiries I was given a quote of about £1,400 but when asked had I used my taxi NCD on the private car, and I answered yes, they changed the policy price to £2,200 stating I can’t use normal car NCD on a taxi, but the fact is, I built up this NCD on a taxi not on a normal car.
I understand you can’t use normal car NCD on a taxi and that is fair enough, but I built up this NCD on a taxi.
I just feel they use it as an excuse to squeeze extra cash out of you.
I contemplated contacting the insurance ombudsman but looking on line, they will only get involved if I have insurance in place, which I don’t yet.
Anyway, here’s hoping there is someone in the trade on here who can shed some light or help me.

Cheers.

NCD is a con by the insurance companies to make more money out of you by insuring insurance.

NCD may protect your no claims, but doesn’t stop a significant increase in insurance premiums after an accident given the higher perceived future risk.

Insurance companies work on risk. The more risk they take, the more money you pay.

Quote:

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Originally Posted by noTAGlove

NCD is a con by the insurance companies to make more money out of you by insuring insurance.

NCD may protect your no claims, but doesn’t stop a significant increase in insurance premiums after an accident given the higher perceived future risk.

Insurance companies work on risk. The more risk they take, the more money you pay.

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I understand this, but my quote jumped by £800 because they say I can’t use my NCD even though I built it on a taxi.

Jay, you probably have but, have you asked around other companies if they will honour NCD? Independant insurance broker may be another way to go..

Quote:

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Originally Posted by Suds

Jay, you probably have but, have you asked around other companies if they will honour NCD? Independant insurance broker may be another way to go..

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I’ll be doing some intensive quote searching on Monday. I won’t bother with online quotes, I’ll call instead.

I think that is the right move. If you can speak to a person who will speak to the underwriter, you have a much better chance. May ask you for evidence

A private hire car is not a taxi – each is in a different risk category. Taxi use is 'public hire' and is different to 'private hire' car use. Insurance companies make the rules and insureds have to accept and abide by same.

https://parkinsurance.co.uk/everythi...axi-insurance/

If you built up your NCD using a taxi, it's not, or should not be, transferrable to your own private car use – as once again they are different risk categories.

Insurance is all about 'pooling of risks', i.e., 'pooling of like or similar risks' It's a fundamental principle of insurance.

In the case of private car insurance, and taxi car insurance, they are very different risk categories and premiums are 'pooled' into different 'pots' with different 'loss ratios'.

Quote:

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Originally Posted by sundial

A private hire car is not a taxi – each is in a different risk category. Taxi use is 'public hire' and is different to 'private hire' car use. Insurance companies make the rules and insureds have to accept and abide by same.

https://parkinsurance.co.uk/everythi...axi-insurance/

If you built up your NCD using a taxi, it's not, or should not be, transferrable to your own private car use – as once again they are different risk categories.

Insurance is all about 'pooling of risks', i.e., 'pooling of like or similar risks' It's a fundamental principle of insurance.

In the case of private car insurance, and taxi car insurance, they are very different risk categories and premiums are 'pooled' into different 'pots' with different 'loss ratios'.

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I’ve been a taxi/private hire driver for over 15 years, I assure you I know the difference and when it comes to insurance they are not different risk categories. Both vehicles are used to carry the public from A-B and in the borough I work in at least, both taxis and private hire are subject to the same fee, inspection test and conditions of use (fire extinguisher, first aid kit etc.

Quote:

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Originally Posted by noTAGlove

NCD may protect your no claims, but doesn’t stop a significant increase in insurance premiums after an accident given the higher perceived future risk.

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Should be illegal IMHO. I've never understood how they get away with increasing someone's premium for a clear non-fault event, particularly when your insurance company likely makes profit out of the incident providing you go through them and the other drivers insurer is paying the bill. Makes a mockery of even calling it insurance; more like temporary cash advanced to be reclaimed with interest over the following years..!